DALLAS—The Dallas metro area has experienced strong and steady expansion, leading all Texas metros in job growth. The Dallas unemployment rate was 3.5% as of April 2016, below that of the state (4.4% for the same period), and well below the national average. Going forward, employment growth in Dallas is expected to remain strong, ranked as the number one US city for business and financial services due to its diverse economy. Uptown is a thriving office submarket in the Dallas metro with the highest occupancy and rental rates. In recent years, the neighborhood has become one of Dallas' most desirable places to live, work, shop and play, creating significant demand for office space. One Victory Park is a 17-story 436,253-square-foot class-A office building located in the Uptown submarket. Clarion Partners recently acquired the asset for an undisclosed purchase price. Brian Watkins , managing director and acquisition team leader, tells GlobeSt.com: “With the acquisition of One Victory Park, Clarion Partners has added an exceptional asset to our national office portfolio. The Dallas market is very strong, and Uptown is the city's most desirable submarket. Office tenants find the Uptown environment, with its rich mix of live/work/play/shop amenities, highly attractive.” One Victory Park is currently 95.2% leased to a high profile roster of national and credit tenants, many in the finance, legal, real estate and professional service industries. Its amenities include a fitness center, conference center, 24/7 security guard and a six-story structured parking garage. The building, constructed in 2008, was awarded LEED Silver status and is Energy Star-certified. The property's location provides tenants with a wide variety of walkable amenities including restaurants, entertainment venues and outdoor attractions. Access is provided to Dallas' major arteries including Interstate 35, the Dallas North Tollway and Woodall Rodgers Freeway. One Victory Park is also two blocks from the Victory Light Rail Station which services the DART light rail and Trinity Railway Express . “One Victory Park is a high quality, well-designed, well-tenanted office building in an expanding submarket of a vibrant city,” commented Watkins. “We are very pleased to add this asset to our portfolio." DALLAS—The Dallas metro area has experienced strong and steady expansion, leading all Texas metros in job growth. The Dallas unemployment rate was 3.5% as of April 2016, below that of the state (4.4% for the same period), and well below the national average. Going forward, employment growth in Dallas is expected to remain strong, ranked as the number one US city for business and financial services due to its diverse economy. Uptown is a thriving office submarket in the Dallas metro with the highest occupancy and rental rates. In recent years, the neighborhood has become one of Dallas' most desirable places to live, work, shop and play, creating significant demand for office space. One Victory Park is a 17-story 436,253-square-foot class-A office building located in the Uptown submarket. Clarion Partners recently acquired the asset for an undisclosed purchase price. Brian Watkins , managing director and acquisition team leader, tells GlobeSt.com: “With the acquisition of One Victory Park, Clarion Partners has added an exceptional asset to our national office portfolio. The Dallas market is very strong, and Uptown is the city's most desirable submarket. Office tenants find the Uptown environment, with its rich mix of live/work/play/shop amenities, highly attractive.” One Victory Park is currently 95.2% leased to a high profile roster of national and credit tenants, many in the finance, legal, real estate and professional service industries. Its amenities include a fitness center, conference center, 24/7 security guard and a six-story structured parking garage. The building, constructed in 2008, was awarded LEED Silver status and is Energy Star-certified. The property's location provides tenants with a wide variety of walkable amenities including restaurants, entertainment venues and outdoor attractions. Access is provided to Dallas' major arteries including Interstate 35, the Dallas North Tollway and Woodall Rodgers Freeway. One Victory Park is also two blocks from the Victory Light Rail Station which services the DART light rail and Trinity Railway Express . “One Victory Park is a high quality, well-designed, well-tenanted office building in an expanding submarket of a vibrant city,” commented Watkins. “We are very pleased to add this asset to our portfolio."NOT FOR REPRINT
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